As someone who is also from cost prohibitive NYC we chose to invest in the Mid-West. 

Single woman, mid 30s, small dog, 50k in student loans, decent savings, 735 credit 2.

I own a couple of homes in a neighborhood built in the mid 80s and late 70s.

I believe there are a few unconventional approaches that work best for OOS investors looking to perform BRRRR in Mid- to lower income communities.  1.

From my experience investing in mid-tier and luxury hotels much larger is you need about 70% to make ends meet, you start getting happy about the investment about 80% and around 85-90% you fell like you are a genius. 

Property is mid 300's for current value, new build so tax assessor is nailing for maximum, no time lag in assessment being outdated. 

I do mid term rentals during my STR dead season(3 month period) and the furniture gets beat up.

Like a Texas or many mid western metro. 

Yes, I'm a Property Manager in the greater Phoenix area.We are a mid-size property manager, large enough to have great tools and support but small enough to provide personal service.

Mid term rentals allowed too.